Cambridge Savings Bank Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 549300FHGNOLF14HHS09

Tax ID: 04-1145100

5 stars - Updated: 11/17/24 - out of 5 stars, based on 30 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Cambridge Savings Bank is a smaller bank specializing in Home Purchase loans. Cambridge Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Providence, and Manchester among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cambridge Savings Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cambridge Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.32% 11/17/24
    30 Year Conventional Purchase 5.88% 11/17/24
    30 Year Conventional Refi 6.22% 11/17/24
    30 Year Cash-out Refi 5.91% 11/17/24
    15 Year Conventional Purchase 5.39% 11/17/24
    15 Year Conventional Refi 6.02% 11/17/24
    15 Year Cash-out Refi 6.02% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Cambridge Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cambridge Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    891

    Origination Dollar Volume (All Markets)

    $414,885,000

    Awards

    Cambridge Savings Bank 30 Year Conventional Loans bronze Cambridge Savings Bank 30 Year Conventional Loans bronze Cambridge Savings Bank 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Cambridge Savings Bank's average 30 year fixed mortgage rate was 6.38%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Cambridge Savings Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,366.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 810 $388,010,000 $479,025 $4,236 6.40%
    WORCESTER, MA-CT (FHA|USDA|VA) 42 $14,270,000 $339,762 $3,077 6.18%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 21 $6,365,000 $303,095 $4,032 6.55%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $2,360,000 $393,333 $4,064 6.29%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $2,335,000 $333,571 $3,308 6.82%
    SPRINGFIELD, MA (FHA|USDA|VA) 4 $1,350,000 $337,500 $4,147 6.62%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.99%
    Cambridge Savings Bank's top markets include Boston, Worcester, Barnstable Town, Providence, and Manchester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Cambridge Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    RTN FEDERAL CREDIT UNION
    Similarity Rank: 40
    OCEAN STATE CREDIT UNION
    Similarity Rank: 45
    SOMERSET
    Similarity Rank: 48
    Charter Oak Federal Credit Union
    Similarity Rank: 56
    HOMEFIELD
    Similarity Rank: 75
    FALL RIVER MUNICIPAL CREDIT UNION
    Similarity Rank: 135
    GREYLOCK
    Similarity Rank: 160
    Country Bank for Savings
    Similarity Rank: 165
    Piscataqua Savings Bank
    Similarity Rank: 177
    Sharon & Crescent United Credit Union
    Similarity Rank: 180

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 610 $362,720,000 $594,623 $4,157 6.36%
    HELOC 281 $52,165,000 $185,641 n/a 6.49%

    For 2023, Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 610 originations. Their 2nd most popular type was HELOC, with 281 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 555 $336,905,000 $607,036 $4,436 6.29%
    Home Improvement 152 $24,290,000 $159,803 $818 6.46%
    Other 102 $18,370,000 $180,098 $92 6.35%
    Cash Out Refi 75 $31,925,000 $425,667 $3,672 7.13%
    Refi 7 $3,395,000 $485,000 $3,513 6.68%

    For 2023, Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 555 originations. The 2nd most popular reason was Home Improvement, with 152 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 826 $372,690,000 $451,199 $4,366 6.38%
    15 Year 17 $6,135,000 $360,882 $2,935 5.88%
    20 Year 15 $7,065,000 $471,000 $2,123 6.79%
    5 Year 13 $2,795,000 $215,000 $48 6.55%
    10 Year 9 $8,935,000 $992,778 $2,455 6.25%
    Other 7 $11,535,000 $1,647,857 $0 8.02%
    3 Year 2 $3,980,000 $1,990,000 $0 7.67%
    1 Year 2 $1,750,000 $875,000 $0 7.88%

    For 2023, Cambridge Savings Bank's most frequently cited loan duration was 30 Year, with 826 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 469 $277,525,000 $591,738
    $1k-2k 42 $15,300,000 $364,286
    $2k-3k 21 $10,305,000 $490,714
    $3k-4k 12 $5,810,000 $484,167
    $5k+ 12 $9,520,000 $793,333
    $4k-5k 6 $3,030,000 $505,000

    Cambridge Savings Bank's average total fees were $4,366, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 469 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 349 $148,005,000 $424,083
    6-7% 284 $176,720,000 $622,254
    7-8% 187 $58,635,000 $313,556
    4-5% 44 $19,410,000 $441,136
    Over 8% 23 $12,015,000 $522,391
    <2.5% 4 $100,000 $25,000

    During 2023, Cambridge Savings Bank's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was 5-6%, with 349 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 214 $60,950,000 $284,813 $3,308 6.47%
    $400k-600k 188 $93,030,000 $494,840 $4,453 6.45%
    $600k-1MM 168 $127,680,000 $760,000 $4,932 6.24%
    $100k-200k 149 $20,135,000 $135,134 $1,673 6.48%
    $100,000 or less 103 $6,055,000 $58,786 $180 6.35%
    $1MM+ 69 $107,035,000 $1,551,232 $7,154 6.31%

    2023 saw Cambridge Savings Bank place emphasis on $200k-400k loans with 214 originations, totaling $60,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 284 $116,790,000 $411,232 $3,991 6.50%
    $250k+ 280 $188,850,000 $674,464 $4,918 6.44%
    $100k-150k 183 $53,115,000 $290,246 $3,565 6.33%
    $75k-100k 82 $21,530,000 $262,561 $3,966 6.13%
    $50k-75k 37 $6,875,000 $185,811 $3,404 5.97%
    $50k or less 9 $1,585,000 $176,111 $2,452 5.72%

    Cambridge Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 284 originations. The second most popular income band? $250k+, with 280 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 176 $71,520,000 $406,364 $3,816 6.41%
    30-36% 172 $66,790,000 $388,314 $3,965 6.35%
    42% 75 $55,975,000 $746,333 $4,510 6.38%
    38% 51 $23,475,000 $460,294 $3,885 6.46%
    44% 50 $14,400,000 $288,000 $4,851 6.24%
    <20% 46 $16,460,000 $357,826 $3,753 6.54%
    41% 45 $25,835,000 $574,111 $4,222 6.29%
    39% 40 $22,070,000 $551,750 $4,672 6.39%
    37% 39 $18,625,000 $477,564 $3,957 6.38%
    40% 37 $16,165,000 $436,892 $4,527 6.39%
    36% 37 $13,985,000 $377,973 $3,775 6.41%
    43% 35 $11,315,000 $323,286 $3,729 6.29%
    45% 16 $6,360,000 $397,500 $5,817 6.55%
    49% 16 $7,580,000 $473,750 $4,792 6.33%
    48% 14 $7,510,000 $536,429 $4,696 6.46%
    46% 13 $5,165,000 $397,308 $4,044 6.27%
    47% 12 $5,060,000 $421,667 $4,419 6.30%
    50-60% 1 $455,000 $455,000 $3,429 6.50%

    Cambridge Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 563 $221,155,000 $392,815 $3,945 6.47%
    Not provided 185 $101,795,000 $550,243 $4,448 6.22%
    Asian 97 $53,875,000 $555,412 $4,583 6.19%
    Not applicable 16 $26,140,000 $1,633,750 $0 7.43%
    Black 28 $11,630,000 $415,357 $3,932 6.32%
    Native Hawaiian or Islander 1 $255,000 $255,000 $0 5.99%
    American Indian 1 $35,000 $35,000 $0 7.38%

    Approval Rates

    Total approvals of all applications
    89.21%

    Cambridge Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.63%

    Cambridge Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 891 $414,885,000 $465,640

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    891 $414,885,000 $465,640

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 114 $29,670,000 $260,263 $2,404 6.61%
    40-60% 106 $66,570,000 $628,019 $4,597 6.59%
    60-80% 207 $146,875,000 $709,541 $5,120 6.33%
    80-100% 225 $138,505,000 $615,578 $4,543 6.17%
    Over 100% 1 $1,745,000 $1,745,000 $12,986 5.88%
    Under 20% 238 $31,520,000 $132,437 $459 6.49%